Browsing: AFDB investments

There is need to rebrand Africa, to give it a better, truer image or in the words of the President for the African Development Bank (AfDB)) Dr Akinwumi A. Adesina to change the narrative on Africa to attract increased investments into the continent.

Granted the head of AfDB specified the Africa rebranding be specific for the USA but the idea stands true in general, the World needs to see Africa differently. The assertion comes ahead of the upcoming “Africa Investment Forum 2021.’

To be held this December (1-3), the event is one of the biggest flagship initiatives of the African Development Bank that is designed to attract billions of dollars in investment for strategic development projects across the continent.

“The annual forum has come to be an invaluable platform during which the Bank successfully attracts critical investment for the continent’s infrastructure, agriculture and health care system needs among others, especially …

NAIROBI, Kenya, Jun14 – The African Development Bank (AfDB) has unveiled a US$463.9 million 5.5-year Kangaroo bond.

In a statement, AfDB says the transaction, which marks its return to the Australian dollar bond market, was led by Nomura and RBC Capital Markets.

The fixed income instrument, which is a foreign bond issued in the Australian market by non-Australian firms and is denominated in Australian currency, is the institution’s first benchmark Kangaroo since early 2018 and its first in the mid-curve since 2015.

It is also the largest AUD trade ever issued by the Bank.

More than 30 investors participated in the deal, with a total order book of more than A$775 million, leading to an upsize of the trade from the announced size of A$250-300 million to the final size of A$600 million.

These included a strong cohort of Australian investors, while fund managers were the major investor type.

African …

The African Development Bank climate finance continuous to gain ground as the bank in 2019, committed 3.5 billion across the continent to finance climate change mitigation and adaptation projects.

This is according to the Multilateral Development Bank (MDB) Climate Finance Report 2020, which noted that AFDB’s climate financing mostly targeted renewable energy and resilient agriculture sectors.

According to the report, the climate financing represents 35 per cent of the total the 2019 approvals of projects worth US$ 10.2 billion, representing an increase of 0.3 per cent over 2018 and 26 per cent over 2016.

“As African economies face the devastating effects of the Covid-19 pandemic, relaxing action or redirecting financial resources away from climate change will further exacerbate these impacts in diverse and complex ways,” said Anthony Nyong, AfDB Director for Climate Change and Green Growth.

The pan-African financial institution in its report on climate finance published in 2019 pledged …